Through nine months of its fiscal year, Greensboro, N.C.-based Cone Health reported consolidated operating income of $50.9 million, up from operating income of $18.6 million for the same period a year ago.
Here are five things to know about the system's most recent financials.
1. Cone Health reported revenue of $1.2 billion for the first nine months of its fiscal year, up 12.6 percent from the same period of last year.
2. Cone Health reported a net surplus for the first nine months of its fiscal year of $57.1 million, compared to a net surplus of $41.8 million for the same period of last year.
3. "The first nine months of fiscal year 2015 was marked by high patient volumes beginning in the month of December and carrying through the quarter ended June 30," the system said in its financial report. "A high occurrence of flu-related medical cases in the region drove emergency department and inpatient discharges significantly over budget and fiscal year 2014."
4. Inpatient volume at Cone Health's facilities increased 8.6 percent for the first nine months of its fiscal year, compared to the same period of 2014.
5. Cone Health said the high patient volumes created staffing challenges and a need in many instances to pay staff at premium labor rates or overtime. That led to a 9.3 percent increase in salaries compared to the same period of last year.
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